1.

Given the amounts below, calculate the Total Cash from (for) Investing Activities on the Statement of Cash Flows.

Cash Collected from Customers$700,000

Issuance of Stock$120,000

Purchase of Equipment$35,000

Proceeds from Sale of Land$60,000

2.Lumpsum, Inc., purchased land and two buildings at a total cost of $28,000. The appraised value for each item is as follows:

Land$12,000

Building 1$10,000

Building 2$18,000

At what amount should Land be debited? DO NOT INCLUDE $ IN YOUR ANSWER.